Speedcast to Buy UltiSat for Up to $100M
Monday, July 24, 2017 | Comments

Speedcast International entered into a definitive agreement to acquire UltiSat for a purchase consideration of up to US$100 million, payable during two years and subject to the ongoing financial performance of the company. UltiSat is a provider of remote communications and professional services to governments, in particular the U.S. government, and to international government organizations (IGOs) and non-governmental organizations (NGOs).

The acquisition strengthens Speedcast’s position in the government and NGO sectors, complementing Speedcast’s government activities in Australia, Asia, Europe and Latin America, a statement said.

“The acquisition of UltiSat extends Speedcast’s position serving government and NGO customers, at a time when we expect government spending to rise,” said Speedcast CEO Pierre-Jean Beylier. “UltiSat has built a really strong reputation providing remote communications and professional services to key customers, such as the U.S. government and IGOs. I am excited to have the UltiSat team joining Speedcast. Speedcast’s scale, global network and unique support services capabilities will enable the combined group to provide expanded services and coverage for UltiSat’s customers around the world. Speedcast will also be able to leverage UltiSat’s solutions and expertise to serve other governments globally with which Speedcast has existing relationships.”

UltiSat CEO Mohammed G. Abutaleb will lead the newly formed government division at Speedcast that will be focused on providing communications solutions and professional services to Speedcast’s and UltiSat’s existing and new government and NGO customers, as well as driving new growth in the nearly $5 billion market for government and military satellite communications.

The transaction is expected to complete in the fourth quarter of 2017 subject to customary closing conditions, including regulatory approvals.

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